A bid to re-establish mayoral control over city schools broke down yesterday after a battle of words escalated between City Hall and Democratic senators who want to weaken Hizzoner’s hold on education.

And again, the issue of whether the 2002 law authorizing mayoral control will be renewed was in limbo, with no resolution in sight.

Deputy Mayor Dennis Walcott, the mayor’s point man on education, demanded that Democrats pass the mayoral-control bill that cleared the Assembly last month, and said they’re holding the measure hostage for concessions that a handful of critics want.

“We have the votes there. We want it to come to the floor for a vote,” Walcott told reporters in Albany after talks disintegrated.

“Quite frankly, we’ve been talking for the last six months. Our goal is to see school governance done.”

Democrats responded to the pleas by immediately announcing plans to bring a hard-line anti-mayoral control bill to a vote, even though it was doomed to fail.

The baffling kamikaze move was widely seen as a political poke in Bloomberg’s eye — and one that could push back an agreement for days, if not weeks.

Thirty-two votes are needed to pass a bill in the 62-member chamber. Republicans have vowed to deliver all 30 of their votes to renew mayoral control, but the Democratic leadership isn’t bringing the bill to the floor for a vote yet.

The Senate was expected to take up mayoral control Wednesday, but got bogged down in fruitless negotiations and nothing ever happened.

It’s unclear when it would come to the floor — legislation was pulled from the floor early this morning. Some officials say it may not happen until September, just as the school year is starting.

Should the Assembly bill sponsored in the Senate by Frank Padavan (R-Queens) reach the floor, it would likely garner enough support from Democrats to pass, legislative sources from both parties said.